2 years ago
Voyager’s Official Committee of Unsecured Creditors said connected May 17 that a pending repayment program volition instrumentality effect successful the adjacent fewer weeks.
Users could entree funds successful coming weeks
The committee said that bankruptcy courts person approved Voyager’s liquidation procedures and said that the program volition instrumentality effect arsenic aboriginal arsenic May 19.
Voyager customers should beryllium capable to entree their funds by June 1, according to the creditors’ committee. However, the radical did not supply immoderate warrant astir that deadline; it alternatively stated that it is “still moving toward” this goal.
Earlier, Reuters reported that Voyager customers volition person astir 35% of the cryptocurrency deposits that they primitively held with the company. Voyager has been granted support to instrumentality $1.33 cardinal successful total.
Later distributions could spot users retrieve up to 63.7% of their funds depending connected the result of litigation with FTX, which intends to reclaim an earlier loan.
Voyager collapsed astir 1 twelvemonth ago
Voyager initially halted withdrawals connected July 1, 2022 and filed for bankruptcy connected July 6, 2022. The institution attempted to merchantability its assets to some FTX and Binance.US successful the months that followed, but some of those deals yet failed.
Another bankrupt crypto company, Celsius, besides made advancement today. Court proceedings bespeak that the institution volition likely merchantability its assets arsenic its auction concludes.
Both companies were affected by a situation that mostly affected crypto firms engaged successful lending and borrowing successful June 2022. Three Arrows Capital (3AC) and CoinFLEX besides failed astatine that time, portion TerraUSD failed 1 period earlier successful May 2022.
The station First Voyager payouts should statesman by June 1, creditors’ committee says appeared archetypal connected CryptoSlate.
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